by Laurent Hendrickx, European Treasurer, Guardian Industries Corp.
Managing treasury in a decentralised business environment is an entirely different proposition than in a business where management responsibility and business support functions are concentrated at regional or global level. Coming to Guardian from my predecessor company was quite a culture shock. While my previous company is predominantly a marketing-driven organisation, which typically creates a more centralised culture, Guardian has emphasised local responsibility and therefore is far more decentralised in its culture. This article shares some of my experiences of managing an efficient treasury operation in a decentralised business environment.
Right and wrong?
All banking relationships are maintained by treasury, with no need to establish local communication channels, except for payroll.